Miami is one of the world's top destinations for international real estate buyers — and the process is more accessible than many expect. You don't need US citizenship or residency to own. This guide walks international buyers through purchasing Miami luxury real estate, from process and financing to costs and investment strategy.
Quick Answer
International buyers can purchase Miami real estate without US citizenship or residency. The process is well-established: buyers provide passport and financial documentation, often pay cash (about half of luxury deals are all-cash), and budget 2–5% in closing costs. Understanding FIRPTA, taxes, and entity structuring early helps optimize the investment.
Key Takeaways
-
No US citizenship or residency is required to buy.
-
Roughly 50% of Miami luxury transactions are all-cash.
-
Closing costs typically run 2–5% of the purchase price.
-
FIRPTA, ITINs, and LLC structuring should be planned early.
-
Miami offers strong appreciation and global lifestyle appeal.
Why Miami Attracts Global Buyers
Miami combines lifestyle, no state income tax, and global connectivity, drawing buyers from Latin America, Europe, and beyond. The city functions as a financial and cultural bridge between the Americas, which sustains deep, resilient demand for luxury homes. Sotheby's International Realty spans 83 countries, linking international buyers to Miami's finest homes and to qualified buyers worldwide when it's time to sell. Understand the fundamentals in our Miami luxury real estate guide.
How the Process Works
The mechanics are routine. Buyers submit passport documentation, proof of funds, and bank references, then work with an agent and title company or attorney to close. For the full walkthrough, see our guide to buying property in Miami as a foreigner.
Costs to Expect
Beyond price, budget 2–5% for closing costs — title insurance, documentary stamps, recording, and legal fees — plus ongoing property taxes and insurance. Our detailed breakdown of closing costs for international buyers covers every line item.
Investment and Ownership
Miami real estate offers appreciation, rental income, and capital preservation. Learn why global buyers invest in our guide to Miami real estate investment for international buyers, and what to weigh before purchasing in our guide for overseas buyers of Miami luxury homes.
FAQ
Can foreigners buy real estate in Miami? Yes. No US citizenship or residency is required, and the process is well-established and routine.
Do international buyers need financing? Not necessarily — about half of luxury deals are cash, though foreign-national financing is available with larger deposits.
What taxes apply to international buyers? Property taxes apply annually, and FIRPTA withholding applies when a foreign owner later sells.
How much are closing costs for foreign buyers? Typically 2–5% of the purchase price, depending on financing and structure.
Conclusion
Buying Miami real estate as an international buyer is straightforward with the right guidance. With 20 years of experience and Sotheby's global network, Claudia Fernandez — who speaks English, Spanish, and French — guides global buyers end to end. Contact Claudia to begin.
Socials